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Trading Video: Dollar and Stock Run to Struggle Without Backing

Trading Video: Dollar and Stock Run to Struggle Without Backing

2014-08-23 00:21:00
John Kicklighter, Chief Strategist
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Talking Points:

• Two themes eclipsed the financial headlines last week: the efficient risk rebound and the dollar's rally

• Both found strength in the status quo, but extending their trends requires more

• Strong moves behind the Dollar, Euro, Pound, Kiwi and Yen will be put to the test this week

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Despite the uneven impact of fundamentals this past week, key market-based trends - like that of the Dollar and S&P 500 - were surprisingly consistent. Yet, both of these drives faces its own headwind moving forward and could stall or even reverse without the proper motivation to reinforce the speculative buildup. For equities and the Yen crosses, the risk appetite rally has burned through the 'risk premium' that speculators look to jump on when complacency prevails. To continue with the S&P 500 at record highs and USDJPY attempting to break a 15-year bear trend, commitment is critical. Meanwhile, the greenback has advanced without support of its safe haven status or a material rate forecast upgrade. Conviction once again rules. We review the markets in the Weekend Trading Video.

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